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Washington County – Colleges/Universities 2023-2024

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Universities play a crucial role in shaping local economies by driving employment, fostering business growth, attracting investment, and enhancing the overall quality of life in their host communities. Their economic impact extends beyond direct spending to include long-term benefits such as workforce development, innovation, and cultural enrichment. Below, we explore the key ways in which a university influences a local economy.

  1. Direct Employment and Spending A university is often one of the largest employers in a local area, providing jobs for faculty, administrative staff, maintenance workers, and other professionals. These employees spend their salaries on housing, groceries, transportation, and entertainment, injecting money into the local economy. Additionally, universities spend significant amounts on construction, utilities, and local services, further stimulating business activity.

    Students also contribute to local spending. Many bring outside money into the community through tuition payments, federal aid, and personal expenditures on rent, food, and retail. A large student population can sustain businesses such as bookstores, coffee shops, restaurants, and housing providers.

  2. Business Development and Entrepreneurship Universities often serve as hubs for innovation and entrepreneurship. Research institutions, business incubators, and technology transfer offices help commercialize academic research, leading to startup formation and industry partnerships. For example, Stanford University's role in Silicon Valley's growth demonstrates how academic institutions can spur regional economic development.

    Local businesses benefit from university partnerships, including procurement contracts for supplies, catering, and maintenance services. Furthermore, universities attract conferences, sporting events, and cultural activities that generate tourism revenue for hotels, restaurants, and transportation services.

  3. Human Capital and Workforce Development A well-educated workforce is essential for economic competitiveness. Universities produce graduates with specialized skills that attract high-paying industries, such as technology, healthcare, and finance. Many graduates remain in the area, filling critical roles in local businesses and government.

    Universities also offer continuing education programs, professional certifications, and workforce training initiatives that help upskill local employees, making the regional labor market more adaptable to industry changes.

  4. Real Estate and Infrastructure Growth The presence of a university can drive demand for housing, both from students and faculty. This often leads to the development of new apartments, condominiums, and mixed-use commercial spaces. Over time, universities contribute to urban revitalization by investing in campus expansions, public transit improvements, and community amenities like libraries and parks.

    However, rapid growth can also lead to challenges, such as rising housing costs and gentrification, which may displace long-term residents. Local governments must balance economic expansion with policies that ensure affordable housing and equitable development.

  5. Cultural and Social Contributions Beyond economics, universities enrich local culture through arts programs, public lectures, and athletic events. These activities improve residents' quality of life, making the area more attractive to businesses and skilled workers. A vibrant university town often sees increased property values and a more diverse, engaged community.


Conclusion

The economic impact of a university on a local economy is multifaceted, encompassing job creation, business growth, talent development, and infrastructure investment. While challenges such as affordability and displacement must be managed, the long-term benefits-including innovation, increased tax revenues, and a more dynamic workforce-make universities vital engines of regional prosperity. By fostering collaboration between academia, government, and industry, communities can maximize these advantages while ensuring inclusive growth.
 
Samaritan Hospital School of Nursing
Davis College  
Bennington College  
North Country Community College  
Russell Sage College  
SUNY Adirondack  
Skidmore College  
Middlebury College  
Rensselaer Polytechnic Institute  
Hudson Valley Community College  
Empire State University  
Percent admitted - total
Admissions yield - total

Full-time enrollment
Part-time enrollment

Total  enrollment
% White
% Black
% Asian
% Hispanic
% Native Hawaiian or Other Pacific Islander
% American Indian or Alaska Native
% two or more races
% Race/ethnicity unknown
% U.S. Nonresident

Undergraduate enrollment
% under 18
% 18-24
% 25-64
% over 65

Graduate enrollment

Student-to-faculty ratio

Tuition and fees, 2020-21
2021-22
2022-23
2023-24

Total price for
In-district students living on campus  2023-24
In-state students living on campus 2023-24
Out-of-state students living on campus 2023-24

In-district students living off campus (no family)  2023-24
In-state students living off campus (no family)  2023-24
Out-of-state students living off campus (no family)  2023-24

In-district students living off campus (w/ family)  2023-24
In-state students living off campus (w/ family)  2023-24
Out-of-state students living off campus (w/ family)  2023-24

Associate's degree
Bachelor's degree
Master's degree
Doctor's degree - research/scholarship
Doctor's degree - professional practice
Doctor's degree - other

Instructional FTE
Research FTE
Public Service FTE
Librarians, Curators, and Archivists FTE
Student/Academic Affairs and Other Education Services FTE
Management FTE
Business and Financial Operations FTE
Computer, Engineering, and Science FTE
Community Service, Legal, Arts, and Media FTE
Healthcare FTE
Service FTE
Sales and Related FTE
Office and Administrative Support FTE
Natural Resources, Construction, and Maintenance FTE
Production, Transportation, and Material Moving FTE
Total FTE staff
NA
NA

3,662
5,883

9,545
51
14
3
14
0
0
3
14
0

7,789
1
26
73
1

1,756

17

7,630
7,630
7,630
7,630


NA
NA
NA

26,208
26,208
36,118

10,748
10,748
20,658

430
1,716
399
0
0
0

325
1
0
0
45
38
101
29
1
50
7
0
177
4
3
781
NA
NA

4,675
4,768

9,443
65
13
8
8
0
0
4
2
0

9,443
28
53
20
0

0

17

5,964
5,964
6,018
6,694


NA
NA
NA

29,164
29,164
34,220

13,504
13,504
18,560

1,301
NA
NA
NA
NA
NA

286
0
0
2
10
23
23
24
23
11
93
8
177
3
7
690
58
16

6,922
102

7,024
42
5
19
11
0
0
5
4
14

5,954
3
97
1
0

1,070

14

57,012
58,526
60,074
61,884


82,404
82,404
82,404

82,404
82,404
82,404

74,944
74,944
74,944

0
1,379
347
146
0
0

478
128
0
19
131
144
139
116
92
33
163
1
133
81
2
1,660
10
45

2,783
74

2,857
55
5
8
11
0
0
7
1
12

2,800
1
99
0
0

57

9

58,316
59,770
62,460
65,280


85,880
85,880
85,880

80,060
80,060
80,060

67,280
67,280
67,280

0
611
201
4
0
0

364
2
1
25
40
114
92
54
81
25
196
0
124
47
12
1,177
23
26

2,739
37

2,776
64
4
6
10
0
0
6
2
9

2,776
1
98
1
0

0

8

58,278
60,302
62,398
65,030


85,270
85,270
85,270

NA
NA
NA

74,896
74,896
74,896

0
617
0
0
0
0

334
3
0
18
31
57
56
40
91
10
179
0
112
35
5
971
NA
NA

1,339
1,384

2,723
83
5
1
5
0
0
3
2
0

2,723
27
55
17
0

0

15

5,832
5,784
6,088
6,528


24,242
24,242
26,906

21,828
21,828
24,492

11,328
11,328
13,992

434
NA
NA
NA
NA
NA

104
0
0
2
25
34
40
6
11
0
33
6
37
0
0
298
76
15

1,437
627

2,064
62
12
5
11
0
1
3
7
0

1,080
3
87
10
0

984

10

32,950
33,894
35,351
36,756


54,322
54,322
54,322

56,442
56,442
56,442

41,281
41,281
41,281

0
277
292
35
45
0

116
0
0
6
29
46
10
17
18
6
30
0
37
8
1
324
NA
NA

640
975

1,615
79
3
2
1
0
4
0
9
0

1,615
52
26
22
0

0

12

6,562
6,562
6,562
6,562


20,358
20,358
27,530

20,358
20,358
27,530

11,562
11,562
18,734

153
NA
NA
NA
NA
NA

42
0
0
1
0
14
1
4
5
0
10
0
18
4
0
99
48
16

819
48

867
63
3
2
10
0
0
5
4
12

776
2
92
6
0

91

9

58,124
59,638
61,448
64,644


87,284
87,284
87,284

87,284
87,284
87,284

68,644
68,644
68,644

9
151
60
0
0
0

84
0
0
5
15
40
11
6
34
0
44
0
40
9
1
289
33
100

55
82

137
59
7
1
9
0
0
5
18
0

137
36
47
17
1

0

6

17,150
17,150
17,200
17,500


27,500
27,500
27,500

27,280
27,280
27,280

22,380
22,380
22,380

2
21
0
0
0
0

11
0
0
0
2
2
1
0
0
0
0
0
1
0
0
17
NA
NA

11
121

132
61
17
6
8
0
2
1
5
0

132
0
34
66
0

0

6

14,292
14,292
14,292
14,671


NA
NA
NA

36,461
36,461
36,461

22,561
22,561
22,561

53
NA
NA
NA
NA
NA

12
0
0
0
1
2
1
0
0
0
0
0
1
0
0
17


Sources: STI: PopStats and STI: Colossus